Brookline, MA Harvard Street Office

Santander Securities LLC serves a broad retail client base — approximately $3.14 billion in regulatory AUM across some 10,800 client relationships, supported by 157 financial advisors — providing investment advisory services, portfolio management through wrap-fee programs, goal-based financial planning, and access to securities-based lending and insurance products. Clients include individuals, ERISA and IRA accounts, and institutional entities, and the firm typically onboards retail (non-high-net-worth) investors with minimums such as $25,000 for its Fund Strategist programs.

The firm delivers investment management chiefly through the FMAX wrap-fee platform co‑sponsored by Fidelity Institutional Wealth Adviser, offering Fund Strategist, Separately Managed Account (SMA) and Unified Managed Account (UMA) strategies that are implemented by third-party discretionary investment managers and an implementation manager (Envestnet Asset Management). SSLLC provides ongoing suitability and compliance oversight, optional tax and values overlays and ESG model options, and discloses that uninvested cash for eligible accounts is automatically swept into an affiliated Bank Deposit Sweep Program at Santander Bank, N.A., a relationship that generates compensation for the firm and its affiliates.

Santander is distinctive among multi-team advisory firms in operating concurrently as a registered investment adviser and a FINRA-registered broker-dealer (in place since 1996), offering insurance agency services, and highlighting affiliated banking relationships and sweep-program compensation in its disclosures. The brochure also discloses multiple prior regulatory actions (for example, an SEC disgorgement in March 2019 and a 2017 Puerto Rico settlement), directs clients to managers’ ADV materials (including historical and predecessor performance information), and confirms the firm principally uses percentage-of-AUM wrap fees rather than fixed-fee pricing.